1. Meadowbrook Property Fiscal Impact Analysis October 6, 2009

2. This Evening’s Agenda  Overview of Fiscal Impact Analysis  Leesburg’s Fiscal Impact Model, developed by TischlerBise  Model Runs  “Off Model” Benefits

3. Fiscal Impact Analysis Overview  Fiscal Impact Analysis measures the impact of proposed development on the Town’s budget  Not the same as Economic Impact  It is essentially a Cost-Benefit Analysis, comparing:  Cost of providing services to the residents & businesses created by the proposed development  Revenue generated by those residents & businesses

4. Fiscal Impact Analysis Overview Cost of Services:  Is based on the cost of providing current services, at current levels, to our current number of residents & businesses  also known as the “Existing Demand Base”  Examples:  Road lane miles & vehicle trips  Population/employment & police calls  Population & park acres/recreation center square footage

5. Fiscal Impact Analysis Overview Cost of Services:  Costs fall into two categories:  Operating Costs  Capital Facility Costs  As the Demand Base increases, the costs increase.  Some costs will not increase with growth; these are “fixed”  For some costs that do increase with growth, we have existing excess capacity – so there will be no increase until a certain threshold of new development is reached.  There is also an upper limit on some costs – the Town’s growth is not unlimited.

6. Fiscal Impact Analysis Overview Revenue:  Direct estimates  Real Estate Property Tax  Meals Tax  Hotel Tax  Indirect estimates  Based on current generation factors, either per resident or per employee

7. Leesburg’s Fiscal Impact Model  Developed by TischlerBise, one of the country’s leading fiscal & economic modeling consulting firms  Developed specifically so the Town can run its own independent analyses  Developed in response to the original Meadowbrook rezoning case

8. Leesburg’s Fiscal Impact Model  Model Walk Through

9. Model Runs Development Assumptions:  Single family home average assessed values  Development schedule  Percent of capital facility costs funded by bonds

10. Model Runs 1.Comparison of a Traditional Design Option (TDO) scenario with a By Right scenario 2.TDO scenario, with settlement agreement concessions factored in 3.TDO scenario, with settlement agreement concessions and a potential commercial rezoning of 24 acres

11. “Off Model” Benefits There are other, potential benefits from the development of the Meadowbrook Property as a result of the TDO & Settlement Agreement, not factored into the Fiscal Impact Model. These benefits fall into two categories: 1. Additional funding received 2. Expenses not incurred

12. “Off Model” Benefits 1.Utility Availability Fees$400,000 2.Federal Stimulus Funding$900,000 3.Regional Stormwater Pond$175,000 4.Litigation Costs$225,000 Total$1,700,000

13. Summary 1. By Right development($2,389,000) 2. TDO development, no concessions($3,366,000) 3. TDO development, with concessions:  Battlefield ROW  full South King St ROW  20 acres of park land $12,361,000 4. TDO development, with concessions & commercial development $23,563,000 Cumulative Net Impact, After 20 Years Combined General & Capital Funds, including Off Model Benefits